Phoenix Chemicals Trading’s office relocation and lease renegotiations for Accolade and Arcadis are some of the latest transactions in Warsaw involving ITRA Polska experts as advisors. The agreements in question total nearly 2,500 sq m of office space.
Phoenix Chemicals Trading, a chemical industry company, has decided to relocate to Gdański Business Center at ul. Inflancka, where it will occupy more than 400 sq m of space.
“While there are fewer new projects, the assets built up in the previous years mean that the Warsaw market still offers a wide choice of offices. For every company we work with, we’re looking for a place that best fits the nature of its business and the needs of its employees. Sometimes our analysis finds that the current location is optimal; in that case, we assist clients in renewing their lease on new terms,” says Łukasz Dreger, Associate Director at ITRA Polska.
ITRA advisors have also helped Accolade, an international industrial infrastructure investor, renegotiate a lease including an expansion for a total of more than 700 sq m of office space at its current headquarters, the Warsaw Financial Centre tower.
Another company to renew its lease with ITRA’s assistance is Arcadis Polska, which uses 1,300 sq m in the West Station building next to the Warszawa Zachodnia railway station.
“In the first half of the year, we saw a significant increase in demand in the Warsaw market, which accounted for almost 75% of the total office usable floor area leased in the entire 2021. As the supply of new buildings under construction is decreasing, we expect the trend for renegotiating contracts and securing spaces to continue in the coming months,” says Martyna Balcer, COO of ITRA Polska.
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ITRA Polska is part of ITRA Global, one of the largest organisations that bring together professional representatives of tenants and occupiers of office, industrial and retail buildings. ITRA Global operates in more than 300 locations worldwide, and its services are based on long experience of objective and impartial experts who support clients in the process of property lease.
Media contact:Aleksandra Bilewicz, [email protected], +48 503 048 863
